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Pioneering retail bond in the final for Investment Deal of the Year

08/09/2014

UKfinalist
The first Retail Charity Bond, issued in July for Golden Lane Housing and heavily oversubscribed, is shortlisted for the Social Enterprise Awards 2014.

Golden Lane Housing (GLH), Allia and Canaccord Genuity are together nominated finalists in the Social Enterprise Awards 2014 for the Golden Lane Housing Retail Charity Bond, issued in July this year.

The Bond was the first ever charity bond to be listed on the London Stock Exchange and raised £11 million, closing early and heavily oversubscribed after less than two weeks. It was issued through the new Retail Charity Bonds platform, created by Allia in association with Canaccord Genuity to raise unsecured loan finance for charities from ethical investors.

The £11 million raised through the Bond will enable Golden Lane Housing to invest in much-needed housing for people with a learning disability who are currently living in housing that does not meet their needs.

Alastair Graham, director of GLH, said:
“The 30 houses and bungalows purchased from the proceeds of the Bond will provide specially adapted homes for over 100 people with a learning disability in their communities across England and Wales – creating a positive and lasting legacy for people as well as for future generations. Through our joined up approach we are working with closely with individuals, families, Mencap and local authorities, and the first three properties are already in conveyancing.”

Tim Jones, chief executive of Allia commented:
“Being shortlisted is a great reward for a number of years of building this bond issuing platform and securing City and government support to realise our vision. The fact that the first bond for Golden Lane Housing was heavily oversubscribed in such a short time shows that there is strong demand for listed social investment opportunities and proves the success of Retail Charity Bonds as a new financing tool for charities.”

Adrian Bell, head of debt markets UK, Canaccord Genuity added:
“The success of the Golden Lane Housing Retail Charity Bond is a great testament to all of the highly respected city institutions, including the authorised distributors, who have donated their time and efforts to launching this product; their commitment is helping to build a market for those seeking investments, such as the Golden Lane Housing Bond, offering clear social benefits.”

All the winners will be announced at the Social Enterprise Awards ceremony which will take place on 26 November 2014 at the London Symphony Orchestra St Luke’s.